Fee changes on our Personal and Business accounts

We're making changes to some of our fees across both Personal and Business accounts. This is effective from 1 March 2018. Download the new Personal banking fees and limits brochure (PDF 170.9 KB) and Business banking fees and limits brochure (PDF 831.6 KB).

We’ve summarised the changes below:

Personal Banking

Personal transaction fees

Everyday account fees being removed:

Fee type Account Fee amount
Deposits All accounts Free
Withdrawal - local Kiwibank All accounts Varied, depending on account
Cheque withdrawal Now Account Pay as you go $2 per withdrawal

Everyday account fees being introduced:

Fee type Account Fee amount
Deposits and withdrawals at Kiwibank branch Now Account $5 Monthly Plan & Front Runner Free
Deposits and withdrawals at Kiwibank branch Free Up, Now Account Pay as you go & Bill Blaster $3 per transaction, one free deposit per month

Savings account fees being removed:

Fee type Account Fee amount
Deposits All accounts Free
Withdrawal - local Kiwibank All accounts Varied, depending on account

Savings account fees being introduced:

Fee type Account Fee amount
Deposits and withdrawals at Kiwibank branch Fast Forward Saver Free deposits, one free withdrawal of any type per month, then $5 per withdrawal
Deposits and withdrawals at Kiwibank branch Back-up Saver & First Saver $3 per transaction, one free deposit per month
Deposits and withdrawals at Kiwibank branch Online Call Free Deposits, withdrawals N/A
Personal service fees

Account general service fees being removed:

Fee type Account Current fee
Cash handling fee All accounts When you deposit or withdraw cash at your local Kiwibank, where the combined total cash deposits and withdrawals exceeds $15,000 in a calendar month. 0.25% of the total cash amount

Account general service fees changing:

Fee type Account Current fee New fee
Cheque clearance fee All accounts When you deposit more than three cheques in a day $0.50 per cheque $1 per cheque

Account general service fees being introduced:

Fee type Account New fee
Cheque book fee All accounts with cheque facility $15 per book of 50
Deposit book fee All accounts $15 per book of 50

Other fees being introduced:

Fee type Account New fee
Postal statement fee Now Account Pay as you go, Now Account $5 Monthly Plan, Front Runner, Bill Blaster, Back-Up Saver and Fast Forward Saver (does not apply to accounts through which you access an established overdraft) $2 per account

Business Banking

Business transaction fees

Transaction fees being removed:

Fee type Account Fee amount
Withdrawal fee – cheque Business Edge $0.70 per withdrawal
Withdrawal fee – automatic payment and bill payment Business Edge $0.20 per withdrawal
Withdrawal fee – direct debit Business Edge $0.20 per withdrawal
Withdrawal fee – EFTPOS, Online Business Edge $0.20 per withdrawal
Withdrawal fee - ATM Business Edge $0.20 per withdrawal

Transaction fees changing:

Fee type Account Current fee New fee
Account management Business Edge Free $5 per month per account
Deposit fee Business Edge First 25 electronic deposits free per business per month, then $0.20 per electronic deposit. First 25 manual deposits (at your local Kiwibank) free per business per month, then $1 per manual deposit Free electronic deposits. First 25 manual deposits (at your local Kiwibank) free per account per month, then $1 per manual deposit
Business service fees

Account general service fees changing:

Fee type Account Current fee New fee
Cheque clearance fee All accounts When you deposit a cheque. First five cheques per business per day free, then $0.50 per cheque $1 per cheque

ATM fees being removed:

Fee type Account Current fee New fee
ATM balance enquiry fee All accounts When you make an ATM balance enquiry. First five balance enquiries per month free, then $0.50 per balance enquiry. The other bank ATM fee may also apply Free

Account general service fees being introduced:

Fee type Account New fee
Cheque book fee All accounts with cheque facility $70 per book of 100

Existing Tertiary and Graduate Overdraft interest rate changes

Our existing Tertiary and Graduate overdrafts will start to be charged interest on balances. This is effective from 1 May 2018.

Current interest rate

Interest rate from 1st May 2018

Not applicable

5% p.a.

Tertiary and Graduate Overdraft fee changes

Our Tertiary and Graduate Overdraft monthly fee has been removed. This is effective from 1 February 2018. Download the new Personal banking fees and limits brochure (PDF 165.1 KB).

Fee type

Current fee

New fee

Overdraft monthly fee

What you'll pay to have an overdraft.

  • $5 per month
  • $2 per month for Tertiary and Graduate Pack customers.

What you'll pay to have an overdraft.

  • $5 per month
  • Not applicable for Tertiary and Graduate Pack customers. Interest will apply to new Tertiary and Graduate Pack overdrafts from 1 Feb 2018.